opens his history with an allusion to trade. Trade is based on
specialization, and is at once a cause of unity and of disunion. Its
extension from individuals to communities. Foreign trade stimulated by
variations of value in different communities. Specialization increases
efficiency, but makes the worker a machine, and a speculator on the
chance that others will want what he makes. International trade also
promotes both unity and friction. On the whole, commerce a great
promoter of unity. Likewise finance, or money-dealing. Its origin and
development. London's catholic taste in foreign securities: sometimes
prefers them to the home-made article. Effect of foreign investment on
home production and consumption. Foreign finance and productive
specialization.


CHAPTER X. INTERNATIONAL INDUSTRIAL LEGISLATION

Interdependence true of countries as of classes. A fact brought home to
us by the European War. Importance of international action in relation
to the raising of social and industrial standards. This truth perceived
by Robert Owen a century ago. Work of Owen and his successors in the
direction of an international minimum of labour conditions. Action of
the Swiss Federal Council. The German Emperor calls the first Conference
on workmen's protection 1890. Formal failure and substantial achievement
of this Conference. Founding of International Association for Labour
Legislation and International Labour Office. Constitution and work of
these bodies. Biennial conferences of the association: subjects and
methods. International Conventions of 1906, their scope and value.
Subsequent labours of the Association. Its present position and future
hopes.